Sterling and Wilson Renewable Energy Ltd., a prominent player in the renewable energy sector, announced on Tuesday, April 1, that it has secured three major solar and hybrid projects worth ₹1,470 crore. This strategic move signifies the company’s growing presence in India’s renewable energy sector, especially as it ventures into wind energy.

New Projects and Wind Energy Expansion
The three projects secured by Sterling and Wilson include a significant wind engineering, procurement, and construction (EPC) order in Rajasthan. This hybrid project combines wind and solar power, with the company tasked with executing the Balance of Plant (BoP) for a combined total of 127 MW AC. This hybrid project includes 69.3 MW of wind BoP, 58 MW AC/75 MW DC solar BoS, and a 132 kV/33 kV pooling substation. Notably, this marks the company’s first wind EPC order, a critical step toward diversifying its offerings beyond its strong foundation in solar energy.

In addition, Sterling and Wilson secured a 200 MW AC/260 MWp DC turnkey solar project in Gujarat. The company emerged as the lowest bidder for this project, which was awarded by a leading public sector undertaking (PSU) developer. The project is expected to further strengthen Sterling and Wilson’s position in India’s solar energy market.

The company also received a letter of award for another PV plant in Rajasthan from a domestic independent power producer (IPP). These new orders showcase the company’s ability to secure substantial contracts in both solar and hybrid projects across diverse regions of India.

Financial Performance and Strategic Growth
Sterling and Wilson’s financial performance has shown significant improvement, particularly in the December quarter. The company reported a net profit of ₹14.8 crore, a major turnaround from the net loss of ₹63.7 crore reported during the same period last year. This remarkable improvement reflects the company's ability to successfully execute large-scale renewable energy projects and enhance operational efficiency.

The company’s EBITDA stood at ₹70.5 crore, compared to just ₹16 crore in the previous year. The EBITDA margin also improved to 3.8%. Sterling and Wilson’s revenue surged by nearly threefold, rising to ₹1,837 crore from ₹583 crore in the same period last year. These figures demonstrate the company’s resilience and its capacity to capitalize on India’s growing renewable energy demand.

Stock Market Response
Following the announcement of these new projects, Sterling and Wilson Renewable Energy's stock price saw a 2.78% increase, reaching ₹257.3 per share at 12:10 PM on Tuesday, April 1. This increase comes despite the stock’s decline by 57% over the last six months, reflecting the company’s potential for recovery and growth within the renewable energy market.

Conclusion
Sterling and Wilson Renewable Energy’s recent order wins and impressive financial performance mark a pivotal moment in the company’s journey. The entry into wind energy, alongside the expansion of its solar and hybrid project portfolio, provides a well-rounded approach to renewable energy development. The company is poised to leverage this growth as it strengthens its foothold in India’s renewable energy industry. With a robust pipeline of projects and a solid financial foundation, Sterling and Wilson Renewable Energy is on track to capitalize on India’s renewable energy potential, contributing to the nation’s clean energy goals.

The strategic focus on hybrid energy solutions, including wind and solar, further solidifies Sterling and Wilson’s reputation as a leader in the renewable energy space. As the company continues to secure major contracts and expand its capabilities, it remains well-positioned for sustained growth in an evolving market.

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